Are you really sure about your player HD output?
Read it well as it can be just "720 to 1080 upconversion", meaning that it will convert 720 to 1080 and sends the signal through HDMI to the flat to use its maximum resolution, giving you the idea of a better picture.
If this is the case your player only reads normal DVD.
You have software that can edit and compress HD video, upmarket and semi-pro, but you also need a HD video camera to start with and a computer that can handle the demanding task put by High Definition.
If you record out of broadcast, you can get Hd from the satelite, but on the other end you need a topset recorder that can record HD (still to come...)
So, I'm affraid you have a difficult task ahead and maybe you have to wait some time before you profit from the HD quality home recordings.
But it seems to be something that will not take that long: just look at HD-DVD and Blu-ray news (we can have players and recorders by the end of 2005, first half 2006), consumer level cameras (sony has one at â‚¬2100) and HD software coming down the scale also.